Derwent London Says Received 87% Of Total Rent, With Further 5% Expected Later In March Quarter

Derwent London Plc. (DLN.L) said Tuesday that it has now received 87% of total rent, with a further 5% expected later in the March quarter. Offices represent 91% of the Group's total rental income and to date the Group has received 91% of those March 2021 quarter Day rents. The office collection rate compared to 78% reported on 8 April 2020 for the March 2020 Quarter Day.

Rent-free periods have been granted on 1% of total rents, mainly for retail and hospitality tenants.

The company noted that March 2021 Quarter Day receipts include rent deposits of 38 thousand pounds; 89% of service charges for the quarter have been received so far.

Rents agreed to be paid later within the December 2020 quarter have continued to be received. The company has now collected 91% of the December 2020 quarter rents, with another 5% subject to agreed payment plans.

For the September 2020 quarter, the company has now received 92% of rents with another 5% subject to payment plans.

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